Karachi: The KSE-100 Index displayed a notable recovery, closing at 112,744, marking an increase of 757 points from the previous day. Trading volumes were recorded at 207 million shares, slightly below the 209 million shares seen in the preceding session. The index is on track to test resistance at 112,945, the 30-day moving average, with a potential breakout aiming for the 50-day moving average at 113,588.

According to a statement by JS Global, the index's support is identified between 112,000 and 112,450. A fall below these levels could potentially target 111,513. While the Relative Strength Index (RSI) has shown improvement, the Moving Average Convergence Divergence (MACD) is trending downward, indicating a lack of clear trading signals. Investors are advised to exercise caution at higher levels and consider waiting for price dips.

In related market movements, Pakistan State Oil (PSO) has seen price stabilization and is expected to recover. The recommended strategy is to 'buy on dips,' with a target price range of Rs338.49 to Rs344.41 and a stop-loss set at Rs325.50. Similarly, Sui Northern Gas Pipelines Limited (SNGP) has a bullish RSI, with a 'buy on dips' strategy targeting Rs100.40 and Rs104.01, and a stop-loss at Rs93.70.